The investment arm of the Quebec government saw a 0.3 per cent return in the 2024-2025 fiscal year, with profits totalling $13.3 million—down from 2.6 per cent last year and well below the $194 million predicted in the last provincial budget. (The Logic, Le Journal de Montréal)

Talking point: Two notable big investments helped drag down Investissement Québec’s results. It invested more than $100 million in Lightspeed in 2022. The Montreal-based payment company has seen its stock price decrease by more than half over the last three years.  Meanwhile, its $86-million investment in Longueuil-based Lumenpulse has diminished in value, Investissement Québec CFO Laurent Naud told Le Journal de Montréal. However, the agency said the Trump administration tariffs were partly to blame for the institution’s financial performance. Its five-year average return is 6.2 per cent, “above the target of long-term average return on equity equal to or higher than the borrowing rate set by the government.”